U.S. Can announced that a group led by Chairman and CEO Paul W. Jones has proposed a buyout of the company.

OAK BROOK, IL — U.S. Can Corp. announced that a group led by Chairman and CEO Paul W. Jones has proposed a buyout of the company under which shareholders would receive $21 in cash per outstanding share of common stock. The buyout group includes Berkshire Partners, a Boston-based private equity firm. U.S. Can’s board of directors has formed a special committee to evaluate the proposal.